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Property profile & analytics
OFF-MARKET
Estimated value
$20,830,000
Distribution centers
860 Westport Pkwy, Fort Worth, TX 76177-4528
Entity Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-8743998
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1996
Total area
422,373 SF
Lot
25.13 ac (1,094,793 SF)
APN
46282E-1-1
UPID
US82-8743998
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Michaels Distribution Center Fort Worth, TX Distribution Center Logistics Company
-
Jonathan Work Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$16.44M
Blend (final)
Blend
$20.83M
Owner & transaction history
Exeter 860 Westport LP · 12 yrs held
Exeter 860 Westport LP
since 2014
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fort Worth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Worth submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$34,430,000
Current use
Blend value · Realmo final
$20.83M
Range $18.75M – $22.91M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$49 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$388,015
Tax year 2023
Assessed value
$20,561,184
Assessed 2024
Previous assessed
$20,062,718
+2.5% YoY
Effective rate
1.89%
On assessed value
Assessed land
$3,284,379
Assessed improvement
$17,276,805
Land market value
$3,284,379
Improvement market value
$17,276,805
Total market value
$20,561,184
Applied tax rate
224.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1996
Heating
NONE
Cooling
YES
Stories
1
Total area
422,373 SF
Lot
25.13 ac (1,094,793 SF)
APN
46282E-1-1
UPID
US82-8743998
Jurisdiction
TARRANT
Metro division
FORT WORTH-ARLINGTON, TX METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$34.4M
WAREHOUSE, STORAGE Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1996
Heating
NONE
Cooling
Yes
Stories
1
Lot
25.13 ac
Current owner
From public records · entity-resolved
Exeter 860 Westport LP
Entity
Mailing address
101 W ELM ST STE #600, CONSHOHOCKEN, PA 19428-2075
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 8, 2021
—
Rocky Box 860 Westport LP
—
Deed
related
$267,000,000 · Prudential Insurance Of America
Jun 17, 2014
—
Exeter 860 Westport LP
Three Harbor Realty LLC
Grant Deed
—
Jun 12, 2014
—
Three Harbor Realty LLC
Three Harbor Realty LP
Quit Claim Deed
related
—
May 27, 2014
—
Three Harbor Realty LLC
Three Harbor Realty LLP
Quit Claim Deed
related
—
Dec 30, 2005
—
Three Harbor Realty
Three Harbor Realty LLC
Quit Claim Deed
—
Jul 12, 2002
—
Three Harbor Realty LLC
Mike Fort Worth Tx LLC
Grant Deed
related
—
Jun 6, 2001
—
Mike Fort Worth Texas LLC
Michaels Stores INC
Deed Of Trust
related
$12,960,000 · First Union National Bank
—
—
Three Harbor Realty LLC
—
Deed Of Trust
related
$11,250,000 · New York Life Insurance
—
—
Exeter 860 Westport LP
—
Deed Of Trust
related
$55,375,000 · Miscellaneous Ins Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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